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‘No Tax on Overtime’ Isn’t All It Seems

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New York Times: “Despite Mr. Trump’s ‘no tax’ branding, overtime pay is still subject to taxes, including payroll taxes and, potentially, state taxes. Some people who work overtime won’t be able to claim the tax break at all. Only Americans who, according to the Fair Labor Standards Act, must be paid time and a half for working more than 40 hours in a week can claim it. And even then, only a portion of the overtime pay — the additional ‘half’ in time and a half — is exempt from the federal income tax.”

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goddard-bw-snapshotTaegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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